Jeppson Wealth Management LLC Sells 170 Shares of Tesla, Inc. $TSLA

Jeppson Wealth Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the second quarter, Holdings Channel.com reports. The firm owned 3,796 shares of the electric vehicle producer’s stock after selling 170 shares during the period. Jeppson Wealth Management LLC’s holdings in Tesla were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla during the first quarter worth about $3,247,619,000. GAMMA Investing LLC grew its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Finally, Amundi lifted its position in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $423.39 on Friday. The firm has a market capitalization of $1.41 trillion, a PE ratio of 244.73, a P/E/G ratio of 15.45 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $349.83 and a two-hundred day moving average price of $312.97. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last three months. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. UBS Group reissued a “sell” rating on shares of Tesla in a report on Monday. Finally, Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $326.74.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.